BTC/USD is consolidating in a narrow range between $678 and $650 for the past three trading session. It is currently trading at $661.55 levels (Bitstamp).

Long-term trend: Bullish

Short-term trend- Bullish

Ichimoku analysis (Daily chart):

Tenkan-Sen level: $642.25

Kijun-Sen level: $652.51

Trend reversal level - (90 EMA)-$574.50

“BTC/USD is facing strong resistance at $685 (Jun 25 high). It should break below this level for further bullishness”, FxWirePro said in a statement.

Major resistance is around $685 (Jun 25 high) and any break above targets $705 (Jul 2 high)/ $731 (161.8% retracement of $778 and $540). Short term support – $642 (daily Tenkan-Sen) and any violation below will drag the pair till $612 (55 day EMA)/$540 (Jun 23 low).